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Financial News: Sweden Economic Sentiment Falls In August

Sweden Economic Sentiment Falls In August

08/30/2017 - 04:20:00 (RTTNews)

(RTTNews) - Sweden's economic confidence weakened in August, but still points to much stronger sentiment than normal, data from the National Institute of Economic Research showed Wednesday.

The economic tendency indicator dropped to 110.7 in August from 112.3 in July.

The decline in August was mainly due to a decline in the manufacturing indicator. It dropped from 120.1 in July to 117.1. The index was forecast to decrease to 119.3.

The consumer sentiment index dropped to 100.3 in August from 102.2 in the prior month. The expected reading was 103.0.

The confidence indicator for the retail trade fell by 2.5 points in August, though still remained above its historical average. The sentiment index came in at 107.2.

The morale for the total industrial sector slid to 109.2 from 110.7. At the same time, the indicator for the services sector rose further to 105.6 from 105.4.

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